International Assets Investment Management LLC Sells 40,262 Shares of Onto Innovation Inc. (NYSE:ONTO)

International Assets Investment Management LLC lowered its position in shares of Onto Innovation Inc. (NYSE:ONTO) by 97.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,250 shares of the semiconductor company’s stock after selling 40,262 shares during the quarter. International Assets Investment Management LLC’s holdings in Onto Innovation were worth $214,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Public Employees Retirement Association of Colorado boosted its position in Onto Innovation by 45.7% during the second quarter. Public Employees Retirement Association of Colorado now owns 105,267 shares of the semiconductor company’s stock valued at $23,112,000 after acquiring an additional 33,025 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Onto Innovation by 287.0% during the 3rd quarter. Cerity Partners LLC now owns 4,663 shares of the semiconductor company’s stock worth $968,000 after purchasing an additional 3,458 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Onto Innovation by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 834,345 shares of the semiconductor company’s stock worth $173,401,000 after purchasing an additional 13,405 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Onto Innovation by 12.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,008,399 shares of the semiconductor company’s stock worth $416,863,000 after purchasing an additional 228,800 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Onto Innovation during the 3rd quarter worth about $14,539,000. Institutional investors own 98.35% of the company’s stock.

Onto Innovation Stock Performance

NYSE:ONTO opened at $191.14 on Tuesday. The firm has a market cap of $9.44 billion, a price-to-earnings ratio of 51.80, a price-to-earnings-growth ratio of 1.07 and a beta of 1.29. Onto Innovation Inc. has a 52 week low of $141.79 and a 52 week high of $238.93. The firm has a 50-day moving average price of $171.39 and a two-hundred day moving average price of $192.08.

Onto Innovation (NYSE:ONTO) last posted its quarterly earnings data on Thursday, October 31st. The semiconductor company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. The firm had revenue of $252.20 million during the quarter, compared to analyst estimates of $250.85 million. Onto Innovation had a net margin of 19.44% and a return on equity of 13.38%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. As a group, sell-side analysts forecast that Onto Innovation Inc. will post 5.22 earnings per share for the current year.

Wall Street Analyst Weigh In

ONTO has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and set a $275.00 price objective on shares of Onto Innovation in a research report on Tuesday, December 17th. Benchmark reissued a “buy” rating and set a $230.00 price objective on shares of Onto Innovation in a research report on Friday, November 1st. Cantor Fitzgerald initiated coverage on shares of Onto Innovation in a research report on Monday. They set an “overweight” rating and a $250.00 price objective on the stock. Needham & Company LLC cut their price objective on shares of Onto Innovation from $245.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Jefferies Financial Group lowered their target price on shares of Onto Innovation from $265.00 to $245.00 and set a “buy” rating on the stock in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Onto Innovation currently has an average rating of “Moderate Buy” and a consensus price target of $253.75.

Onto Innovation Profile

Onto Innovation Inc engages in the design, development, manufacture, and support of process control tools that performs optical metrology. The company offers lithography systems and process control analytical software. It also offers process and yield management solutions, and device packaging and test facilities through standalone systems for optical metrology, macro-defect inspection, packaging lithography, and transparent and opaque thin film measurements.